Insider Selling: Confluent, Inc. (NASDAQ:CFLT) Insider Sells $267,253.41 in Stock

Confluent, Inc. (NASDAQ:CFLT) insider Erica Schultz sold 9,467 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $28.23, for a total value of $267,253.41. Following the transaction, the insider now owns 678,016 shares of the company’s stock, valued at $19,140,391.68. This represents a 1.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Erica Schultz also recently made the following trade(s):

• On Monday, November 18th, Erica Schultz sold 63,729 shares of Confluent stock. The stock was sold at an average price of $27.40, for a total transaction of $1,746,174.60.

Confluent Stock Up 3.0 %

CFLT stock opened at $31.52 on Monday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 1.17. Confluent, Inc. has a 52 week low of $17.79 and a 52 week high of $35.07. The stock has a market capitalization of $10.34 billion, a P/E ratio of -28.40 and a beta of 0.82. The firm has a 50-day simple moving average of $23.35 and a 200-day simple moving average of $24.57.

Confluent (NASDAQ:CFLT) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.03. The business had revenue of $250.20 million for the quarter, compared to analyst estimates of $243.98 million. Confluent had a negative return on equity of 34.05% and a negative net margin of 38.35%. Equities analysts forecast that Confluent, Inc. will post -0.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CFLT has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $31.00 price target on shares of Confluent in a report on Friday, November 15th. Sanford C. Bernstein reduced their price objective on Confluent from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on shares of Confluent from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Wolfe Research upgraded Confluent to a “strong-buy” rating in a research note on Wednesday, September 18th. Finally, Mizuho upped their price target on Confluent from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Confluent presently has an average rating of “Moderate Buy” and a consensus price target of $30.88.

Hedge Funds Weigh In On Confluent

Institutional investors and hedge funds have recently bought and sold shares of the company. William Blair Investment Management LLC purchased a new stake in shares of Confluent during the 2nd quarter valued at approximately $193,403,000. Champlain Investment Partners LLC raised its position in Confluent by 72.2% in the third quarter. Champlain Investment Partners LLC now owns 10,700,846 shares of the company’s stock valued at $218,083,000 after purchasing an additional 4,486,841 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Confluent by 17.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,581,914 shares of the company’s stock valued at $536,601,000 after purchasing an additional 2,587,169 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Confluent by 28.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 7,617,100 shares of the company’s stock valued at $224,933,000 after purchasing an additional 1,684,100 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Confluent by 60.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,510,483 shares of the company’s stock worth $103,665,000 after purchasing an additional 1,316,804 shares during the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

About Confluent

Confluent, Inc operates a data streaming platform in the United States and internationally. The company provides platforms that allow customers to connect their applications, systems, and data layers, such as Confluent Cloud, a managed cloud-native software-as-a-service; and Confluent Platform, an enterprise-grade self-managed software.